Dubey may head Canara, Mundhra Bank of Baroda

NEW DELHI: After months of dilly-dallying, the government appears to have finally decided on new chairmen for Canara Bank and Bank of Baroda, which are among the largest lenders in the country.

Sources said that the finance ministry has started processing the proposal to appoint R K Dubey, who is currently executive director at Central Bank of India, as the new Canara Bank chief. S S Mundhra, who is executive director at Union Bank of India, will move from his south Mumbai office to Bank of Baroda headquarters in the western suburb of Bandra Kurla Complex.

Although both candidates were expected to take up these jobs several months ago, the government decided to explore the option of moving Uco Bank chairman and managing director Arun Kaul from Kolkata to Canara Bank in Bangalore. Similarly, Indian Bank chief T M Bhasin was expected to move from Chennai to BoB. The idea appeared to be moving chairmen who had spent some time in corner offices to larger banks but the government has had a rethink once again, resulting in a reworked arrangement.

The indecision in North Block has meant that Canara and BoB have remained headless. Canara Bank chairman S Raman retired in September while BoB's M D Mallya superannuated last month. In recent months, the government had started the practice of deciding on bank chiefs well in advance.

In fact, the finance ministry has already begun the exercise of appointing bank chiefs for several banks where the top jobs fall vacant in 2013-14.

In fact, the finance ministry has already begun the exercise of appointing bank chiefs for several banks where the top jobs fall vacant in 2013-14.

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